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Princeton's financial aid packages offer grants, not loans

by Megan Peterson, Office of Communications

Nov. 13, 2012 10 a.m.

Princeton undergraduates are not required to take out loans to pay the costs of attendance. Their financial needs are met through a combination of grant aid and summer and term-time earnings. The average Princeton financial aid package for a freshman on aid is $39,700.

Illustrations by the Office of Communications

The Princeton financial aid program provides grants (instead of loans) that do not need to be repaid, making it possible for students to graduate with zero debt.

The average financial aid package for a freshman on aid is $39,700, made up of $37,600 in grant aid and $2,100 for a campus job. Tuition for the 2012-13 academic year is $38,650. About 60 percent of undergraduates receive financial aid.

"Princeton's financial aid program is one of the best in the country for low- and middle-income families," said Robin Moscato, director of undergraduate financial aid. "Since 2001, we have made it possible for students to graduate debt free."

Princeton encourages all qualified students — regardless of financial circumstances — to consider applying for admission to the University. The financial aid program reflects the University's core value of equality of opportunity and the desire to attract the most talented students. As all aid is awarded based solely on need, Princeton does not offer academic or athletic merit scholarships.

If admitted, students' full financial need, as determined by Princeton's Financial Aid Office, will be met. This policy applies to both domestic and international students. The financial aid package will offer grants and a campus job — not student loans — to meet a student's full demonstrated financial need.

Princeton's confidential Financial Aid Estimator (valid for the United States and Canada) can help families determine if they would qualify for aid and the type of award they might receive.